Y H & C Investments Profile Picture Investment Adviser

Y H & C Investments

President,Financial Services,Y H & C Investments

  • EducationUC Irvine
  • QualificationsMBA, BA, CFA
  • Investment Experience20 years experience
  • Founded2004

Concentrated GARP


  • Asset class Equity
  • Specialist focus Small cap
  • Strategy Aggressive
GARP stands for Growth at a Reasonable Price. My growth-oriented investment style focuses on fundamental analysis including cash ratios, liquidity ratios and margins. I will also invest in anticipation of potential mergers, spin-offs and perceived arbitrage opportunities.
My main focus is on buying growth-oriented businesses led by what I believe are strong management teams. I attempt to buy growth companies, as well as ones with cash-rich balance sheets. The companies I own also tend to have strategic competitive advantages and high barriers to entry within large target markets. At times I may target potential spin-offs and arbitrage opportunities as well.
My screening approach analyzes cash, cash relative to debt, assets relative to liabilities, liquidity and cash flow. Typical sources of data and company information include Barron’s, Yahoo! Finance, MSN Screener, local news, Seeking Alpha, Investopedia, BusinessWeek and Bloomberg.
Positions usually range from 5% to 20% of the portfolio. I typically will seek to sell positions for which I have a larger allocation.
I make decisions to close positions based on the performance, or lack thereof, of the company. If an abnormally large gain is achieved in a short period, the position may be sold. If a stock is grossly overvalued, it will also be sold.
My strategy may change if I believe that stocks are highly overvalued, or due to merger activity, regulatory issues, world events or potential arbitrage opportunities.

Performance

5.5%

Month to date

MTD

5.5%

Quarter to date

QTD

7.2%

Year to date

YTD

Quarterly vs S&P500

Quarterly vs S&P500

Risk score

  • 19.7%

    Best quarter

  • -29.8%

    Worst quarter

  • $10,000 investment min
  • 1.5% fee

Performance detail

  • Manager (net of fees )

Performance Portfolio inception January 20, 2010

as of July 22, 2016 Manager (net of fees ) S&P 500
Month-to-date 5.5% 3.6%
Quarter-to-date 5.5% 3.6%
Last 365 Days -11.3% 3.5%
Since inception (Annualized) -0.1% 10.5%
2016 (YTD) 7.2% 6.4%
2015 -18.1% -0.7%
2014 -12.0% 11.4%
2013 39.4% 29.6%
2012 40.2% 13.4%
2011 -34.1% 0.0%

Risk metrics Last 365 days

as of July 22, 2016 Manager (net of fees ) S&P 500
Volatility 22.4% 17.2%
Sharpe Ratio - 0.52 0.18
Sortino Ratio - 0.87 0.25
Maximum Drawdown -26.8% -13.3%
Value-at-risk (95%, 1 week) -5.2% -4.0%
vs. S&P 500
Information Ratio - 0.98
Alpha -14.2%
Beta 0.97
R-Squared 0.55

Exposure

54.6%
27.1%
11.1%
5.9%
0.5%
  • Financial
  • Communications
  • Industrial
  • Consumer, Cyclical
  • Consumer, Non-cyclical

Top 5 securities

37.0%
17.7%
13.7%
13.2%
11.1%
View all

Portfolio commentary

  1. yhc-investments/_profile-35x35.jpg Fed's rethink on rates

    18 July 2016

    Fed faces huge uncertainty on rate hike impact

  2. yhc-investments/_profile-35x35.jpg Brexit mess explained 30 June 2016
  3. yhc-investments/_profile-35x35.jpg Microsoft’s daring bet 22 June 2016
  4. yhc-investments/_profile-35x35.jpg US jobs slump shreds Fed credibility 8 June 2016
  5. yhc-investments/_profile-35x35.jpg Finding the path forward 27 May 2016
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Latest transactions Average trades per month 0.4

Executed Symbol Security Type Price
12/15/15 H Hyatt Hotels Corp Buy $47.07
12/15/15 VIV Telefonica Brasil SA Buy $9.57
12/03/15 GPRO GoPro Inc Buy $19.82
11/19/15 DLB Dolby Laboratories Inc Sell $34.83
11/19/15 DGI DigitalGlobe Inc Sell $16.78
11/04/15 VIV Telefonica Brasil SA Sell $11.06
10/16/15 RMCF Rocky Mountain Chocolate Factory Inc Buy $11.41
06/10/15 VIV Telefonica Brasil SA Buy $14.02
View all

Important Information

  1. Past performance is no guarantee of future results.
  2. Performance of the Portfolio Manager's account is calculated by Covestor on a daily time-weighted basis, including cash, dividends and earnings distributions and broker commissions. Manager returns include trades and positions that fail Covestor's trading rules, as a result, actual client returns will differ. Covestor advisory fees are simulated and applied retro-actively to present the portfolio return "net-of-fees".
  3. Average client returns are calculated by Covestor and are composed of the asset-weighted average returns of all active client investments (some of which may contain investment restrictions) to the underlying portfolio. These daily average returns are then linked together for the timeframe presented. These returns include cash, dividends, earnings distributions, brokerage commissions and Covestor advisory fees.
  4. All graph data is as of the end of day for the referenced period, unless otherwise specified. The investment minimum is the minimum investment required to follow a particular portfolio. The minimum amount is determined by Covestor, based on the characteristics of the underlying portfolio. It should not be considered as specific investment advice for your investment situation.
  5. The performance charts are provided for informational purposes only, and should not be used as the basis for making an investment decision. Variables such as corporate actions or foreign exchange may affect daily performance displays. We rely on mathematical formulas, computer programs, and pricing information from third-party vendors to provide these returns. Neither Covestor nor any of its data or content providers shall be liable for any errors in this information or any actions taken by you in reliance upon this information.
  6. Benchmark returns have been calculated by Covestor using a time-weighted calculation of daily index valuations. More
  7. Leverage indicates the level of margin utilized and is calculated by dividing gross exposure by portfolio net liquidation value.
  8. All Portfolio Manager information including personal data, profiles, strategies, monthly investment reports, and historical results outside of Covestor has been provided by the Portfolio Manager. Covestor makes no representation or warranty of its accuracy, completeness or relevance and it does not represent the opinions of Covestor. Transaction history is available upon request. Portfolio classifications are provided by Covestor, and are intended to serve as a general guide.
  9. Not all transactions listed will appear in your account due to Covestor's trading rules and individual client constraints. Eligibility of these securities is monitored periodically, and may change over time. Actual client investment holdings may vary.
  10. Index returns do not reflect any management fees, transaction costs or expenses. Individuals cannot invest directly in an Index. For certain portfolios we use an investable ETF as a benchmark, in these cases returns include management fees, transaction costs and expenses.